FX.co ★ USD/CHF almost to hit downtrend line

USD/CHF Downtrend Unharmed!

The currency pair developed a strong upward movement and now is trading at 0.9056 at the time of writing. Despite the current growth, the price remains in a downtrend. Technically, the downtrend line represents an upside obstacle. As long as it stays below it, the rate could drop again.

USD/CHF Forecast!

Testing and retesting the downtrend line may announce a new downside movement towards the former lows.

On the other hand, jumping and stabilizing above the downtrend line announces that the downtrend ended and that we may have an upside reversal.